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covenant

noun [C]
 
 
/ˈkʌv.ən.ənt/

Definition

a formal agreement or promise between two or more people: The contract contained a restrictive covenant against building on the land.Making and breaking promises and commitments UK specialized a formal agreement to pay a fixed amount of money regularly, especially to a charityTrusts and funds covenant
 
 
verb [T]
Five percent of our profits are covenanted to charity.Making and breaking promises and commitments
(Definition of covenant noun from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)

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